Vernalis Initiates Phase Ib/II Proof-of-Concept Study with V81444

12 July 2013

LSE: VER

Vernalis plc today announces that it has dosed the first subjects in a Phase Ib/II proof-of-concept (PoC) study of V81444, an A2A antagonist which has potential applications for the treatment of Parkinson’s disease and other disorders of the central nervous system (CNS).

The randomised, double-blind, placebo controlled study will evaluate the safety, tolerability and pharmacokinetics of V81444 after twice daily administration for 14 days in 24 subjects. As the study is being conducted in subjects with a confirmed diagnosis of one of the potential indications, the aim is also to provide initial proof-of-concept for use of V81444 as a potential treatment for this CNS indication. The trial is being conducted at a single US site under an approved Investigational New Drug (IND) application.

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Enquiries:

Vernalis Contacts:

Ian Garland, Chief Executive Officer

+44 (0) 118 938 0015

David Mackney, Chief Financial Officer

Nomura Code Securities Limited:

+44 (0) 20 7776 1200

Juliet Thompson

Jonathan Senior

Brunswick Group:

+44 (0) 20 7404 5959

Jon Coles

Notes to Editors

About Vernalis

Vernalis is a revenue generating development stage pharmaceutical company with significant expertise in drug development. The Group has one marketed product, frovatriptan for the acute treatment of migraine, an exclusive licensing agreement to develop and commercialise multiple novel products focussed on the US prescription cough/cold market as well as seven programmes in its NCE development pipeline. Vernalis has significant expertise in fragment and structure based drug discoverywhich it leverages to enter into collaborations with larger pharmaceutical companies. The Company’s technologies, capabilities and products are endorsed by collaborations with Endo, Genentech, Lundbeck, Menarini, Novartis, Servier and Tris.

Vernalis Forward-Looking Statement

This news release may contain forward-looking statements that reflect the Company's current expectations regarding future events including the clinical development and regulatory clearance of the Company's products, the Company's ability to find partners for the development and commercialisation of its products, as well as the Company's future capital raising activities. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of the Company's research strategies, the applicability of the discoveries made therein, the successful and timely completion of clinical studies, the uncertainties related to the regulatory process, the ability of the Company to identify and agree beneficial terms with suitable partners for the commercialisation and/or development of its products, as well as the achievement of expected synergies from such transactions, the acceptance of frovatriptan and other products by consumers and medical professionals, the successful integration of completed mergers and acquisitions and achievement of expected synergies from such transactions, and the ability of the Company to identify and consummate suitable strategic and business combination transactions.